The World Bank Board of Directors today approved the Country Partnership Strategy (CPS) for the Republic of Moldova for 2009-2012. The CPS is the main assistance framework at the country level, which will guide the World Bank's interventions in Moldova over the next four years.
Development assistance efforts in Moldova over the next four years will aim to support a sustainable growth strategy, which capitalizes on opportunities for remittance flows to be used productively to allow the country to increase private savings and investment.
The new CPS aims to lay the foundations for inclusive economic growth in Moldova by:
• improving economic competitiveness to support sustainable economic growth;
• minimizing social and environmental risks, building human capital, and promoting social inclusion; and
• improving public sector governance.
These areas of World Bank support are consistent with Moldova's national development priorities for 2008-2011 and other development efforts.
The CPS foresees total commitments of around US$45-50 million per annum, part of which will be channeled through direct budgetary support. The CPS will also support investments in modernizing Moldova's infrastructure and improving access to public services, as well as projects with regional or global environmental benefits.
In addition to its lending operations, the World Bank Group will provide a range of analytical and advisory services in support of Moldova's development agenda set forth in the National Development Strategy (NDS). These efforts will be complemented by an ongoing commitment to promote and provide investments and guarantees, through Bank Group institutions (IFC and MIGA), to strengthen and expand financial and private sector growth.
